Bank of England Likely to Hold Fire at Dec MPC Meeting
–Omicron Variant Set to Delay Rate Hike Widely Expected Before Year End–Sharp Rise in November Inflation Could Provide Spirited Discussion LONDON (MaceNews) – The Bank of England is likely to keep rates on hold at Wednesday’s final rate-setting meeting of the year, with the U.K. returning to partial Covid restrictions as the Omicrom variant sweeps […]
ECB Set to Clarify Future of PEPP; Upgrade Inflation Forecasts
— But Details of Post-PEPP Stimulus Unlikely to Come From Dec Meeting LONDON (MaceNews) – The European Central Bank is likely to provide greater detail on the winding up of its emergency asset purchase programme following its policy meeting this week, but is unlikely to say much about further quantitative easing. “This is more of […]
BofA Global Research Fund Manager Survey: Global Investors Increase Cash Holdings In December In Anticipation of World Central Bank Tightening in 2022
–On Average, Investors Expect Fed Taper to End by April 2022 By Vicki Schmelzer NEW YORK (MaceNews) – Global investors increased their cash holdings in December, wary of putting new monies to work ahead of expected world central bank tightening in 2022, according to the findings of BofA Global Research’s monthly fund manager survey, released […]
Japan Oct Machine Orders Rebound On Eased Supply Delays, Covid Rules
–Japan Govt Keeps View: Pickup in Machine Orders Pausing By Max Sato (MaceNews) – Japanese machinery orders, the key leading indicator of business investment in equipment, posted a solid rebound in October amid signs of a slight easing in delayed parts supply from Southeast Asia and relaxed Covid restrictions on business hours and public events […]
BOJ Dec Tankan Business Sentiment Mixed; Capex Plans Cautious
–Sentiment Among Major Manufactures Flat After Recent Gains –Non-Manufacturers Report Better Conditions on Eased Covid Rules –Major Firms Revise Down Capex Plans From Sept But Still Up From FY20 –Smaller Firms’ Capex Plan Upward Revision Smaller Than Expected By Max Sato (MaceNews) – Confidence among major manufacturers in Japan was unchanged in December from September […]
PREVIEW: BOJ Dec Tankan To Show Mixed Sentiment, FY21 Capex Plans
–Sentiment Among Manufacturers Seen Flat After Recent Gains–Non-Manufacturers Likely Report Better Sentiment on Eased Covid Rules–Major Firms Expected To Revise Down Their Capex Plans–Smaller Firms Tend To Revise Up their Capex Plans Later in Fiscal Year By Max Sato (MaceNews) – The Bank of Japan’s quarterly Tankan business survey is expected to show confidence among […]
Japan Nov Producer Price Rise Remains 4-Decade High on Energy, Commodities
By Max Sato (MaceNews) – Producer prices in Japan continued rising from year-earlier levels, staying at a four-decade high, as global supply chain disruptions, albeit easing slightly, as well as labor shortages are pushing up energy and commodities markets, data released Friday by the Bank of Japan showed. By contrast, consumer inflation in Japan remains […]
Analysis: Inflation-Wary FOMC Seems Headed Toward a Quicker Pace of Tapering, Rate Hikes
– Wage-Price Trends Have Dramatically Changed the Fed’s Policy Calculus By Steven K. Beckner (MaceNews) – Who would have imagined just a short time ago that the Federal Reserve would not only be accelerating reductions of asset purchases before year’s end, but signaling an intention to raise short-term interest rates sooner and more rapidly than […]
Italy Backs EU Council’s Switch To Qualified Majority Voting, ‘Key’ To Boost Integration
By Silvia Marchetti ROME (MaceNews) – Italy supports switching from unanimity in votes on tax and defense policy within the European Council to a qualified majority, which according to ruling coalition sources will speed up the decision-making and integration process. The proposal of changing the voting system within the EU Council, which represents member states, […]
Bank of Canada Keeps Record-Low Rate, Still Sees a Hike in Mid-2022
By Max Sato (MaceNews) – The Bank of Canada on Wednesday left its record-low policy rate — the target for overnight lending rates — at 0.25%, as expected, to continue supporting economic recovery while sticking to its recent projection that a rate hike is likely to come sometime between April and September. “The Governing […]